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Pentax Bows to Investors,
Accepts Offer From Hoya

TOKYO -- Pentax Corp. agreed to a tender offer of 105 billion yen ($863 million) by Hoya Corp., bowing to pressure from shareholders who strongly favor a tie-up between the companies.

The agreement concludes a months-long saga over the fate of Pentax, the 88-year-old Japanese precision-optics maker known for its cameras. It also marks the rising influence of shareholders in a country where they have long been known for passivity.